The market is deep red, and many of you are likely holding losses $SNDKB and probably haven’t been sleeping well, right? Looking at the 24h chart being down nearly 4%, quite a few people have already started wondering whether they should cut losses or buy the dip right now.
Don’t rush—let me break down this chart so you can see why it’s struggling like this.
A quick look at the technical data shows the issue right away:
🔹 15-minute timeframe: Price is hovering around 1531.98, right next to MA(20) at 1532.53 and EMA(9) at 1531.00. This zone is a very intense battleground between sellers and buyers. If this level isn’t held, price could very easily keep dropping hard.
🔹 1-hour timeframe: The situation looks worse, with MA(20) at 1578.85 and EMA(9) at 1543.42. Both of these lines are acting as fairly strong dynamic resistance above. Trading below them shows the short-term trend is still leaning toward the SHORT side.
From my perspective, a strong immediate rebound is a bit unlikely. The market needs more time to accumulate or shake out the weak hands.
My personal setup for this coin is as follows:
📌 I’ll prioritize a scalping SHORT if price makes a slight recovery toward the 1540 - 1543 area.
🎯 Entry: 1540 - 1543.
🎯 TP (Take Profit): 1515 - 1500.
🎯 SL (Stop Loss): 1555 (cut immediately if the 1h candle closes above EMA 9).
Are you still holding $SNDKB or did you already exit yesterday? Share your strategy with me below.
#Trading #Crypto #Analysis
Note: This is a personal view, not investment advice. Trading always involves risk (DYOR).
Don’t rush—let me break down this chart so you can see why it’s struggling like this.
A quick look at the technical data shows the issue right away:
🔹 15-minute timeframe: Price is hovering around 1531.98, right next to MA(20) at 1532.53 and EMA(9) at 1531.00. This zone is a very intense battleground between sellers and buyers. If this level isn’t held, price could very easily keep dropping hard.
🔹 1-hour timeframe: The situation looks worse, with MA(20) at 1578.85 and EMA(9) at 1543.42. Both of these lines are acting as fairly strong dynamic resistance above. Trading below them shows the short-term trend is still leaning toward the SHORT side.
From my perspective, a strong immediate rebound is a bit unlikely. The market needs more time to accumulate or shake out the weak hands.
My personal setup for this coin is as follows:
📌 I’ll prioritize a scalping SHORT if price makes a slight recovery toward the 1540 - 1543 area.
🎯 Entry: 1540 - 1543.
🎯 TP (Take Profit): 1515 - 1500.
🎯 SL (Stop Loss): 1555 (cut immediately if the 1h candle closes above EMA 9).
Are you still holding $SNDKB or did you already exit yesterday? Share your strategy with me below.
#Trading #Crypto #Analysis
Note: This is a personal view, not investment advice. Trading always involves risk (DYOR).